You're link won't load, but my house is wired like that. It doesn't have any "smart" features, but each light switch is a momentary-contact toggle switch connected to a relay in a big panel in the basement. The system is made by General Electric and is still sold today (mostly for commercial applications).

However, the low voltage wiring is very neatly done, and it still functions perfectly. Since low voltage wiring is so small, it means a bank of nine switches can easily fit in a single gang box (in the form of a 9-position dial and a single switch). Also, some lights are controlled by as many as five switches, since it's so easy to daisy-chain another switch, and I love that I can shut off the detached garage lights from inside the house.

The main disadvantage is that it's difficult to add dimmers to lights, since the line voltage isn't in the switch box.

This relay-driven system just screams to be hooked up to a computer system to add "smart home" features, and I actually started doing that. I got a prototype working with a Raspberry Pi and some home-made circuit boards to the point where I could ask Siri to turn on any light in the house, but I'm no electrical engineer, and before long my boards started to fail.